Exterion Media CEO calls on the Out-of-Home industry to change
Shaun Gregory, newly appointed CEO of Exterion Media, marked his OOH speaking debut in Vienna last week with a clear message to the industry – it’s time to change.
Speaking at the 10th annual Fepe Congress, a gathering of international OOH media owners, media and creative agencies and suppliers to the industry, Shaun discussed both the opportunity and the need for OOH to grow and compete at the top table. Currently 7% of global media spend and the second fastest growing media sector, Shaun highlighted that the OOH industry is perfectly positioned to drive growth, change consumer experiences and add value through transitioning into digital and extending into other media.
Calling for the industry to see reaching consumers on the move as the new battleground for advertising, Shaun stated that the key to growth will be to learn from other media. With the pace of change rapidly accelerating, both at a consumer and advertiser level, OOH players must follow the example of companies like Facebook, Google and Twitter to adapt and leverage this opportunity. Referring to the tech giants’ ability to constantly evolve and change, Shaun remarked that their trading model from three years ago bears no relation to today. His question in response to the industry was simple; how has the trading model for OOH changed in this time?
Commenting on the challenge that was set by Jean-Francois Decaux at the beginning of the Congress to grow OOH share globally to 10%, Shaun cautioned that whilst OOH was poised for growth this could only happen from an industry level. He warned working alone would only drive cannibalisation or in-sector battles that ignore the true war, and that consistency and accountability are vital if OOH is to go fishing for new revenue. Ultimately, there has never been a greater need for the OOH industry to collaborate.
Rounding up his presentation, Shaun left the room with three thoughts;
As an industry we need to change and the time is now
We need to collaborate to go from 7% to 10% globally
To drive growth and evolve we need to capture new revenues.
Shaun joins Exterion Media on July 1st, 2014 from almost 11 years working in new media, and six years with Telefonica where he is currently the Global Director of Advertising.